Piramal Pharma Credit Ratings Upgraded and Reaffirmed

Piramal Pharma Limited announced on July 21, 2025, that CARE Ratings Limited has assigned new ratings to its financial instruments. The long-term bank facilities and issuer rating have been upgraded to CARE AA; Stable from CARE AA-; Positive.

Similarly, non-convertible debentures also saw an upgrade to CARE AA; Stable from CARE AA-; Positive. The long-term/short-term bank facilities rating was upgraded to CARE AA; Stable / CARE A1+, with the outlook revised from Positive and the short-term rating reaffirmed. Commercial paper and short-term bank facilities ratings were reaffirmed at CARE A1+.